A water cooler effect is a phenomenon, occurring when employees at a workplace gather around the office water cooler and chat. It is a synonym for gathering and connecting people in a certain environment (e.g. the office). When a television program, like a soap-opera or series, is talked about among many people (mostly related to guessing what will happen in the next episode) it can be said that the program has a water cooler effect.
http://en.wikipedia.org/wiki/Water_cooler
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